JA Economics Chp. 5
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| The price at which the amount supplied is equal to the amount demanded. Equilibrium | market-clearing price or equilibrium
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| A price set below equilibrium by the government | price ceiling
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| A price set above equilibrium by the government | price floor
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| Distributing or allocating a product by a price system. | rationing
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| The difference between the amount supplied and the amount demanded when the asking price is less than a market-clearing price. | shortage
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| The difference between the amount supplied and the amount demanded when the asking price is greater than a market-clearing price. | surplus
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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